Does Your Office Fit?
From 2008 to 2017, office vacancy increased significantly as business shrank and mobile technology improved making it possible to work anywhere.
Hospital systems gobbled up individual medical practices, individual insurance agents changed to online offerings and banks are still shrinking physical locations, just to name a few additional causes.
In 2018, the office market continues to tighten up as the companies grow and new businesses start. It is a very good time to plan where you want to be while spaces or buildings are still available. What a great time to lock in a great rental rate or sale price for the long term.
If you are leasing or buying, give yourself 4-6 months before your lease expires to look for alternative options while negotiating with your current landlord.
It seems simple, but the process is layered with complexities of needs and leverage.
Gerspacher Real Estate Group agents have completed thousands of lease or sale transactions and are a great source to help you navigate your next real estate decision!
View our office real estate here.